2021-4-21 Louisiana Legislature Passes Resolution Commending Satoshi and Bitcoin

[CharlieDavis]

The Louisiana legislature passed a resolution last week praising Satoshi Nakamoto and his work developing bitcoin.

WHEREAS, Bitcoin, which could potentially replace gold as a monetary reserve, is limited and finite and there is a maximum capacity of only twenty-one million bitcoins allowed to be produced; and

WHEREAS, not only has Bitcoin proven to be a critical tool for businesses, it has proven to be a critical tool for citizens around the world to protect themselves from currency debasement.

BE IT RESOLVED that the House of Representatives of the Legislature of Louisiana does hereby commend Satoshi Nakamoto for his contribution to economic security.

BE IT FURTHER RESOLVED that the House of Representatives of the Legislature of Louisiana does hereby commend Bitcoin for its success in becoming the first decentralized trillion dollar asset and encourage the state and local governments to consider ways that could help them benefit from the increased use of this new technology.

The resolution also commends Moxey, a Louisiana built community currency, that uses a monetary protocol called Proof-of-Value.

Article:
https://news.bitcoin.com/us-state-resolution-commending-satoshi-nakamoto-bitcoin/

Direct link to resolution:
https://legis.la.gov/legis/ViewDocument.aspx?d=1216298

About Moxey (disclosure: it's my project)
Moxey is building a network that is complementary to bitcoin. It is proposing money that is 1) privately issued with no privileges from a government-mandated monopoly, 2) credit-based, and 3) irredeemable on demand for an external asset, yet 4) fully backed by verifiable reserves.

https://www.moxeyusa.com

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1714942626

[willoweb]

Great news and example for other states. The more such news there is, the stronger the bitcoin rate will be, the higher the confidence in its further strengthening and growth in price and value for people will be. In addition, this factor will directly affect the growth of the community, involving more and more people in activities related to cryptocurrency. As soon as cryptocurrency gains a foothold in the consumer market and becomes easy to use for everyone, its distribution will accelerate many times over.

[acquafredda]

There must be some true Bitcoin OGs in the House of Representatives of Lousiana! It makes some effect to read those words coming from some institutions, most interestingly when they say that bitcoin could overcome gold and probably create a bitcoin standard for the future.
I am sure we will get there, eventually.

[bbc.reporter]

This is good news, however, as the skeptic and the antagonist hehe, I disagree with this statement. Which could potentially replace gold as a monetary reserve, is limited and finite and there is a maximum capacity of only twenty-one million bitcoins allowed to be produced. Bitcoin’s supply is only limited through a consensus of a community. I am not telling everyone it will change, however, it can be changed if there was consensus. People should be careful with comparing bitcoin to gold.

[acquafredda]

This is good news, however, as the skeptic and the antagonist hehe, I disagree with this statement. Which could potentially replace gold as a monetary reserve, is limited and finite and there is a maximum capacity of only twenty-one million bitcoins allowed to be produced. Bitcoin’s supply is only limited through a consensus of a community. I am not telling everyone it will change, however, it can be changed if there was consensus. People should be careful with comparing bitcoin to gold.

Nah, the 21 million fixed supply is set stone. No one will ever change that, not in a million years   I understand your contrarian role but that is simply not happening, the whole bitcoin economy is now based on these protocol rules and the 21 mil fixed cap is never going to change.
Good luck with gold, when Elon will start digging into space  

[bbc.reporter]

@acquafredda. The comparison with gold that has 79 proton and 79 electrons and no human can change, to a man made computer program that can be changed is wrong. However, I agree. The developers might begin to have a hard time to change things in the protocol without the permission or influence of the whales similar to Michael Saylor. He presently has the threat to dump his coins if his voice is not heard.

[Woodie]

Its about time Satoshi Nakamoto the computer scientist is recognized for bitcoin ( is it blochchain tech), maybe a Nobel prize wouldn't be a bad idea!

@acquafredda. The comparison with gold that has 79 proton and 79 electrons and no human can change, to a man made computer program that can be changed is wrong.

going Einstein on us, i like it

The developers might begin to have a hard time to change things in the protocol without the permission or influence of the whales similar to Michael Saylor. He presently has the threat to dump his coins if his voice is not heard.

When ever you hear people talk about Bitcoin vs gold, Michael Saylor is a name that cant be left out, but having that influence to tell developers what to do i dont think thats how it works....his not the first whale neither is he going to be the last

[Streets 2.0]

I agree that there is no such fixed amount with gold. After all, every year different companies, both private and public, expand their gold reserves, mining companies conduct geological exploration - their reserves are periodically replenished with new deposits. Also, do not forget that the real gold that we observe was found and mined at very shallow depths. We are delving into the sandbox compared to the actual depth of the earth. So with Bitcoin, everything is more understandable and predictable.

[bbc.reporter]

Its about time Satoshi Nakamoto the computer scientist is recognized for bitcoin ( is it blochchain tech), maybe a Nobel prize wouldn't be a bad idea!

@acquafredda. The comparison with gold that has 79 proton and 79 electrons and no human can change, to a man made computer program that can be changed is wrong.

going Einstein on us, i like it

The developers might begin to have a hard time to change things in the protocol without the permission or influence of the whales similar to Michael Saylor. He presently has the threat to dump his coins if his voice is not heard.

When ever you hear people talk about Bitcoin vs gold, Michael Saylor is a name that cant be left out, but having that influence to tell developers what to do i dont think thats how it works....his not the first whale neither is he going to be the last

I was only giving an example that gold’s structure cannot be reprogrammed by humans, however, in cryptocoins it can because it is software.

I was also only making Michael Saylor as another example to show that there are flaws in bitcoin’s monetary policy which encourages hoarding and might give those hoarders more power to infuence the bitcoin economy and development.

[DapanasFruit]

Okay, this is something new. I have never heard a governmental body which passed a resolution recognizing the work and contribution that Satoshi Nakamoto and his Bitcoin had done which revolutionize people's perception on money, finance and banking. I am sure also that maybe  Louisiana is planning many things that will be taking advantage of the blockchain technology and cryptocurrency. Right now, we are seeing a number of states that are putting more focus on the potential of this new technology in the hope that this can help them economically. And that is a good trend. USA should be the leading cryptocurrency country and must be a Bitcoin nation.